“At U.S. Bank, working with diverse suppliers aligns with our core value of doing the right thing. And it’s good for business. Working with diverse suppliers means increased innovation, new revenue opportunities, access to emerging markets, enhanced market share and brand loyalty. My genuine interest in developing strong supplier diversity programs is rooted in my belief that we need to build economic progress in underserved communities in America.”

Craig McKenney, Chief Procurement Officer
People reviewing U.S. Bank supplier diversity program information

Supplier diversity at U.S. Bank

By doing business with small and diverse suppliers, we're contributing to the growth of companies that in turn help us build the best bank in America.

Our supplier diversity program demonstrates our commitment to promoting opportunities for certified small businesses and businesses owned by minorities, women, LGBTQ individuals, veterans and people with disabilities. All employees that purchase or influence purchasing decisions are responsible for identifying opportunities for diverse suppliers to participate in the competitive bid process on an equal basis with all other bidders.

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Program objectives and focus

  • Continue to drive organizational awareness, education and training of supplier diversity program and initiatives at U.S. Bank
  • Assist business lines in the development of supplier diversity strategies that are aligned with the strategic plans of U.S. Bank
  • Find potential small and diverse suppliers, including identifying opportunities to expand existing diverse supplier relationships
  • Provide resources, tools and mentorship to assist in the development and growth of small and diverse businesses
  • Track and report on our performance toward achieving supplier diversity goals and objectives with a strong emphasis on continuous improvement
  • Attend and support outreach events that promote diverse supplier utilization, such as conferences and seminars held by our national partners: Women’s Business Enterprise National Council (WBENC), National Minority Supplier Development Council (NMSDC), National Gay and Lesbian Chamber of Commerce (NGLCC), National Veteran Owned Business Association (NaVOBA), Disability:IN, United States Hispanic Chamber of Commerce (USHCC), United States Pacific Asian American Chamber of Commerce (USPAACC), United States Black Chamber (USBC), Small Business Administration (SBA) and SAM

Our performance

U.S. Bank Spend with Certified MBE/WBE/SDV/VET/LGBTQ/DOBE

Year 2022

$594MM

Eligibility requirements

U.S. Bank defines a diverse company to be at least 51% owned, controlled and managed by one or more minority group members, women, veterans, disabled or LGBTQ person(s). Minority groups include the following:

  • Black
  • Hispanic
  • Asian Indian
  • Asian Pacific
  • Native American/Indigenous

Qualifying companies must be located within the United States, its territories or its possessions.

U.S. Bank recognizes a small business as a privately owned and operated business that is organized for profit and has a place of business in the U.S. or contributes to the U.S. economy. The number of employees and annual revenue that qualify a business as small vary by industry, are set by the SBA and include the following designations:

  • Small Business Enterprise
  • Small Disadvantaged Business
  • Historically Underutilized Business Zones
  • Women-Owned Small Business
  • Veteran-Owned Small Business
  • Service-Disabled Veteran-Owned Small Business

Certified companies must submit a certification received from an authorized third party or regulatory agency. U.S. Bank accepts certification completed by regional councils of the NMSDC and the WBENC, National Women Business Owners Corporation (NWBOC), NGLCC, NaVOBA, Disability:IN, USBC, USHCC, USPAACC, SBA and SAM.

We support the growth of diverse businesses by encouraging many of our prime suppliers to report subcontracting use of diverse suppliers on U.S. Bank contracts through our Tier 2 program.

Because U.S. Bank requires certification for small and diverse suppliers, we've created a Certification Sponsorship Program to help with the financial burden of certification and provide technical expertise throughout the process. If you are interested in learning more about the program, please reach out to supplier.diversity@usbank.com.

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How can diverse suppliers connect with U.S. Bank?

If you’re interested in doing business with U.S. Bank, please complete our supplier registration process. Completing this registration will allow us to contact you if there’s an opportunity that fits your company’s description. Should there be an opportunity to contract with you in the future, you’ll be required to provide certification verification.

Questions about U.S. Bank supplier diversity initiatives?

Email us
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Disclosures

U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.

Credit products offered by U.S. Bank National Association and subject to normal credit approval.

Deposit products are offered by U.S. Bank National Association. Member FDIC.

Investment and insurance products and services including annuities are:
Not a deposit ● Not FDIC insured ● May lose value ● Not bank guaranteed ● Not insured by any federal government agency.